Market Research Future Has Published a Half-Cooked Research Report on the Polyamides Market Research Report- Forecast till 2025
Polyhydroxy butyrate (PHB) is a natural and crystalline polymer, which are synthesized from prokaryotic microorganisms. Other microorganisms such as Alcaligenes, Bacillus, Azotobacter, Nocardia, Rhizobium, and Pseudomonas are potential producers of PHB. It is considered a potential alternative for petroleum-derived plastics is owing to its property of biological degradability. Hence, the variety of applications across several end use industries including biomedical and packaging. Owing to increasing applications of the polyhydroxy butyrate, its market is likely to expand at a CAGR of 18.69% over the estimated period.
Market Scenario and Growth Factors:
The rising environmental regulations and concerns over plastic waste are augmenting demand for biodegradable plastics, which in turn is driving growth of the global polyhydroxy butyrate market. Further, the material posses the thermoplastic property and resembles the properties of polymers, which makes them suitable for various applications. Thus, it is an eco-friendly plastic. It is fueling growth of the global polyhydroxy butyrate market.
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The advent of small and environmentally friendly materials coupled with the availability of advanced bioplastics is widening its applications of the bioplastics. Thus, the demand for material for the polyhydroxy butyrate and is likely to propel market growth. This factor is powering growth of the global polyhydroxy butyrate market.
As per the European Biomass Industry Association, western Europe holds more than 41.5% of shares in the biopolymers market. This factor is estimated to propel the demand for the polyhydroxy butyrate in the region for adopting the eco-friendly packaging and products, which is estimated to benefit the Polyhydroxy Butyrate. Further, increasing investment in the research and development for exploration of the most suitable material used for packaging across several industries is estimated to offer opportunities for growth of the global polyhydroxy butyrate market in the estimated timeframe.
Some of the key players in the global polyhydroxy butyrate market include:
Biome Technologies PLC,
FULL CYCLE BIOPLASTICS,
Tianjin GreenBio Materials Co., Ltd,
Green Dot Bioplastics,
TianAn Biologic Materials Co., Ltd.,
Polyhydroxy Butyrate Market is segmented on the basis of types, end-user, and region.
Based on the types, the market is segmented into powder, sheet, film, and granules. Based on the end-user, the market is segmented into packaging, consumer goods, biomedical, agriculture, and others.
On the basis of region, the polyhydroxy butyrate market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. Of these, Europe is estimated to dominate the global polyhydroxy butyrate market during the forecast period owing to the increasing focus to lower the dependency on fossil fuels coupled with rising demand for the nature-friendly products. In addition to this, the presence of mature bioplastic industries, along with increasing legislation imposed by the FDA and EPA, are driving the polyhydroxy butyrate market in the region.
Additionally, the market in Asia Pacific is anticipated to exhibit the strongest CAGR during the forecast period owing to swiftly changing industrialization and increase in disposable income, which is augmenting demand for the polyhydroxy butyrate. The rising demand for packaged foods coupled with demand for eco-friendly packaging products is driving growth of the global polyhydroxy butyrate market in the region. In addition, rising concerns over the environment and strict restrictions implicated over plastic goods are likely to propelling growth of the market. Countries in the region including China, India, and South Korea are increasingly adopting nature-friendly products complying with regulations by the government.
The market in North America is estimated to witness growth with a substantial growth rate during the forecast period owing to increasing environmental regulations and surge in penetration of non-degradable plastics in the region.
Browse key industry insights spread across 139 pages with 35market data tables & 10 figures & charts from the report, “Polyhydroxy Butyrate Market Research Report: Information by Type (Powder, Film, Sheet, and Granules), End-Use Industry (Packaging, Biomedical, Consumer Goods, Agriculture, and Others), and Region (Asia-Pacific, North America, Europe, Latin America, and Middle East & Africa)—Forecast till 2025” in detail along with the table of contents @ https://www.marketresearchfuture.com/reports/polyhydroxybutyrate-market-4017